Field of the Present Invention
The present invention is related to a portable e-pay system and method. More specifically, the portable e-pay system and method has a touch panel having tax control function and credit card reconciliation function.
Descriptions of the Related Art
As technology develops, the payment instruments of modern society transaction have changed from traditional paper money and coins to credit currency (e.g., credit cards, debit cards, etc.), and therefore a series of tools are designed to assist merchants to charge customers for payment. However, there is no single Point of Sale (POS) system can assist merchants to deal with filing tax reports or facilitating payment requests and reconciliation now.
There are some prior art POS which can assist merchants to deal with filing tax reports, but those machines usually can not guarantee the accuracy of tax data. Thus, the tax authorities can not confirm the accuracy of those data. In addition, there is no incentive for merchants to record their tax data correctly and file correct tax reports to the tax authorities.
There are some prior art POS with magnetic stripe reader (MSR) and can assist merchants to operate credit card payment procedures. However, under current practice, when merchants proceed credit card operations, they need to capture credit information via MSR and request an authorization code from the Credit Card Center. The Credit Card Center, responding to the requests, transmits an authorization code to the merchants via acquiring bank associating with the merchants, completing the transaction. However, when the merchants request payment from the acquiring bank at the end of each month, the acquiring bank would make a list of the merchants' credit card transaction data in the whole month for merchants to verify. In the meanwhile, since the transaction data stored by merchants and the credit card transaction data provided by acquiring banks do not have the same format and are not in the same order, and since the merchants do not have the correlation between the transaction data and credit card transaction data, the merchants will face difficulties to confirm each credit card transaction data. Therefore, a lot of labor and time are wasted in the verification process.